Maryland’s online sports betting and casino market has boomed ever since its opening in November 2022, with regional properties like MGM National Harbour and the Preakness Stakes serving as growth drivers.
But, does it reign supreme in any of the categories of betting, and how does it compare to neighbouring giants like New York and New Jersey?
Here we’ll analyze Maryland’s standing in the Mid-Atlantic, its positives, top rankings, and what holds it back from reaching the pinnacle.
Maryland’s Market Size
It can be said that sports betting in Maryland is hot. In March 2025, bettors wagered $588.5 million, ranking fourth in the country.
The state has collected over $12 billion in wagers since 2021, with mobile offerings leading the way due to their convenience. Tax revenue was $29.5 million that same month, funding schools with the Blueprint for Maryland’s Future Fund.
In comparison, New York led at $2.45 billion, followed by New Jersey at $1.11 billion. Maryland ranks ahead of smaller neighbours like Virginia ($600 million annually) but trails Pennsylvania ($842.9 million). Its 48% rise in March 2024 shows it’s catching up fast.
Where Maryland Leads
In the field of sports betting, Maryland leads specifically in horse racing and lacrosse.
The Preakness Stakes at Pimlico generates millions in bets each year, likely the region’s leader. Horse racing betting hit $200 million in 2024, ahead of Delaware at $50 million and West Virginia at $80 million. Saratoga is large in New York, but Maryland’s Preakness carries a national old-school appeal.
Lacrosse, a hometown sport with the likes of Johns Hopkins, is bet heavily on NCAA and PLL matches. Maryland likely beats Virginia and Delaware, where lacrosse is not as large.
The Gap
Maryland lags behind New Jersey ($1 billion per year) and Pennsylvania ($600 million) in online casino revenue. House Bill 17, presented in 2025, would legalize iGaming, collecting $300-$400 million.
New York, without legal online casinos, loses bettors to offshore sites, like Maryland, which cost $197 million in taxes in 2024. Legalizing it could also give an additional boost to the local economy, considering the necessary promotions and advertising in order to establish brands, and also online casino bonuses like the one by Vegas Insider for example, which offer additional credits and spins to keep the audience engaged.
This gap holds Maryland back from rivals with broader gambling options.
Handles and Taxes
Maryland’s handle in 2024 was $5.4 billion, and operator revenue totaled $450 million.
New York eclipsed it at $23.9 billion and $2.1 billion in revenue, with New Jersey at $12.9 billion and $1 billion. Maryland’s $870 per-capita betting (6.2 million citizens) comes close to New Jersey’s $1,000 (9.3 million).
Maryland’s 15% tax (17.5% for heavy mobile revenue) projects $32.55 million per annum, less than New York’s $1.4 billion (51% rate) or New Jersey’s $130 million (13%).
Pennsylvania’s 36% rate earns $200 million, illustrating Maryland’s robust but smaller scale.
Why Maryland Isn’t Number One
Maryland’s not the largest for a couple of reasons. Its 6.2 million populace is nowhere close to New York’s 19.8 million or New Jersey’s 9.3 million, scaring off bettors.
New Jersey started online betting in 2018, New York in 2022, both before Maryland’s 2022 entry, giving them more customer bases.
Tax rates are involved too: 15–17.5% is middling for Maryland, but revenue-maximizing 51% in New York and 13% in New Jersey attract operators. Pennsylvania and Virginia competition splits bettors, rather than New York City’s pull.
The Advantage of the Open Market and Local Atmosphere
Maryland has an open market, home to 11 mobile sportsbooks with room for 60 more licenses.
New Jersey has 16, but New York has only 9. Regional players like Crab Sports tie in with Ravens and Terrapins’ passion, distinct from New York’s more universal focus.
March Madness and NFL games trigger bets to soar, establishing an all-time high of $639.9 million handle in November 2024. Maryland isn’t the biggest, but its horse racing, lacrosse, and competitive culture make it a regional leader.
